Having gained momentum since the pandemic, the well-established tendency towards rising health-consciousness among Guatemalans should become more influential in shaping chocolate confectionery purchasing decisions over the forecast period, especially those of mid-to-high-income earners in urban areas. Most notably, it is expected growing concerns about obesity will buoy demand for products with lower levels of sugar, including dark chocolate varieties with a higher cacao content.
While the macroeconomic outlook for Guatemala over the forecast period is generally positive, most consumers are likely to remain cautious in their discretionary spending decisions after having recently experienced a significant drop in purchasing power due to the spike in inflation. Together with the fact that a large proportion of the population live on relatively low incomes, this should ensure chocolate confectionery continues to witness the entry of new imported brands offering decent quality standards at price points that compare favourably with those of locally manufactured varieties.
Chocolate confectionery is expected to face increasing competition from other types of snacks over the forecast period. For example, the threat from snack bars like those sold under the Kellogg's and Bimbo brands looks set to intensify, as such products have a more wholesome image that appeals to health-conscious Guatemalans, especially parents buying treats for children’s lunchboxes.
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Understand the latest market trends and future growth opportunities for the Chocolate Confectionery industry in Guatemala with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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Chocolate Confectionery
This is the aggregation of tablets, countlines, chocolate pouches and bags, boxed assortments, seasonal chocolate, chocolate with toys, and other chocolate confectionery. Nuts and fruits covered in chocolate are included in this category. Note that chocolate overtly positioned for baking/cooking purposes is excluded from Euromonitor International's confectionery coverage.
See All of Our DefinitionsThis report originates from Passport, our Chocolate Confectionery research and analysis database.
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